Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Turkey's central bank raises key rate to 25% to counter rising prices

The regulator has said it will continue to tighten monetary policy until it brings down inflation, which currently stands at 47.83 per

Dubai free zone sees 250% licence renewal boost

Dubai World Trade Centre Authority Free Zone registered 322 new companies in H1 2023

Saudi EXIM Bank signs export credit insurance deal with Evonik to boost non-oil exports

The agreement aims to protect the risk of non-payment associated with international buyers, reported the Saudi Press Agency on Wednesday.

Alvarez & Marsal UAE Banking Sector Pulse Reveals Steady Performance in Q2 2023

Despite benchmark interest rates reaching their peak, net interest income (NII) contributed minimally to profitability

UAE Unemployment Insurance deadline – last date to subscribe may be different in these cases

Top three things you should know about the Unemployment Insurance Scheme

Egypt extends term of central bank governor as devaluation looms once more

Hassan Abdalla presided over policies that helped the country secure a $3bn loan from the IMF

SAMA opens public consultation on consumer product financing

The apex bank has invited its stakeholders and the public to send suggestions and observations on the proposal via its public consultation platform.

UAE scam alert: Residents warned of online shopping fraud, here's how to stay safe

Swindlers put up ads of heavily discounted products on social media platforms through fake websites

UAE Corporate Tax: Are business owners better off drawing a 'salary' from their companies?

While salaries are not taxed, business owners must be careful about such a step

Lebanon freezes bank accounts of former central bank governor and associates

The brothers and Hoayek have all been charged in Lebanon over embezzlement and other financial crimes.

Dh4 billion confiscated in money laundering cases, 187 'most wanted' people apprehended

It has also helped solve 521 cases of money laundering over the past two years

Dubai Chamber of Commerce receives a total of 75 mediation cases during H1 2023

Dubai Chambers remains committed to protecting the interests of the private sector and the emirate’s dynamic business community

UAE corporate tax: Will the one-size-fits-all approach work?

Many of these co-operative entities didn’t survive the highlighting of risks they were not necessarily aware they already bore, even before the advent of VAT.

UAE slaps $1.3mln fine on exchange house for violating compliance laws

The unnamed company was found to have weak compliance framework to prevent money laundering

CBUAE revokes licence of money exchange firm

The administrative sanctions are the result of findings which revealed serious regulatory misconduct

UAE: DFSA, Financial Intelligence Unit join hands against financial crime

The agreement aims to enhance co-operation, co-ordination and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance

Oman Development Bank approves development loans worth RO 14 million

The bank’s board of directors lauded the significant role of the private sector in stimulating economic movement by adopting projects with high added value to the national economy.

Regulator issues new banking licenses

With the license it secured from the BDDK and an initial capital of 2 billion Turkish Liras, Colendi will operate as a digital deposit bank.

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations

Central Bank of Egypt to decide EGP rate Thursday amid expectations of ‘no change’ for third consecutive time

The Monetary Policy Committee (MPC) of the Central Bank of Egypt will hold its fifth periodic meeting in the current year on Thursday to decide the basic interest rates

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